Hurricane Exploration Gets Frontier Licence by DECC

Hurricane Exploration plc (“Hurricane”), an oil exploration company focused on hydrocarbon resources in fractured basement reservoirs, announces that it has been awarded a Frontier Licence by the Department of Energy and Climate Change (“DECC”) in the second tranche of offers in the 26th Seaward Licensing Round.

The Licence covers ten offshore blocks -5/1, 5/2, 5/3, 5/4, 5/5, 5/6, 5/7, 5/8, 5/9 and 206/28 and is located on the West Shetland Platform immediately to the southwest of the Shetland Isles and northwest of the Orkneys. Hurricane will have a 100% operated interest in the Licence. The acreage fits with Hurricane’s strategy of exploring niche plays. Whilst focused on the Devonian, the location also offers potential within the underlying basement, a cornerstone of Hurricane’s success to date.

Dr Robert Trice, CEO, said “we are delighted to win this Licence which covers a significant part of the Devonian Orcadian Basin, a basin which has the potential to yield significant resources in an area that has largely been overlooked on the UKCS. We look forward to evaluating this frontier play with the initial work programme involving the shooting of 2D seismic over the Licence in order to provide the first proper insight into the subsurface geology of this part of the basin”.

[mappress]

Offshore Nieuws Staff, January 10, 2012 ; Image: scottishsalmon